US: Rockwell OKs $30 billion sale of company to United Technologies

Shareholders of Rockwell Collins voted at a meeting on January 11 to approve of the United Technologies Corporation acquisition.

Out of the more than 72% of common stock shares represented at the meeting Thursday morning in Cedar Rapids, 96% of the votes were in favor of the transition.

“Shareowners have made clear their support for this acquisition, bringing it one step closer to reality,” Kelly Ortberg, Rockwell Collins’ Chairman, President and CEO said.

Once the acquisition is complete, Rockwell Collins and UTC Aerospace Systems will combine to create a new United Technologies business. The new business will be called Collins Aerospace Systems.

“As Collins Aerospace, we’ll be a stronger company, with attractive aerospace product and service portfolios, and ultimately, better positioned for long-term success,” Ortberg said.

Full Content: Winston-Salem Journal

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